Geopolitical tensions have now eased, leaving freight rates to feel the full effects of the weak underlying market and falling demand. Tanker shipping looks set to be under pressure for the rest of the year.

In 2016 the dry bulk shipping sector experienced some of the worst market conditions in history. In response, BIMCO produced a unique analysis model, named "Road to Recovery" to highlight actions needed for the struggling shipping markets to recover - and to track their progress.

State of the Bunker Industry - Examining the Key Issues Stakeholders Face Today

26 May 2020

This is not the post-2020 environment we expected. The event examined the key issues that marine fuel stakeholders from buyers to suppliers face today. How did we get here, and what can we expect in the months ahead? Is there any IMO 2020 hangover at all, or is the focus now only on dealing with the reality of new market dynamics and the changing economic landscape? Peter Sand, Chief Shipping Analyst, BIMCO provided the Shipowners' Perspective.

Impact of COVID-19 on Future Shipping Demand with BIMCO's Peter Sand

14 May 2020

From the drastic decrease in oil demand to lockdown in manufacturing, Peter provided an overview of the macroeconomic challenges being faced by individual shipping sectors and subsequently indicators of how the breakbulk and project cargo sectors are faring through the current pandemic.

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Get analysis of the dry bulk, oil tanker and container markets. The BIMCO shipping market analysis team writes a mix of quick insight and deep analysis with a focus on the fundamentals: supply and demand.

Members of OPEC and allies (OPEC+), agreed to a historic production cut of 9.7 million barrels of crude oil per day (m/bpd) to reduce the massive production overhang and set a price floor to limit the fall in oil prices.

BIMCO will host the Perspectives and insights on shipping amidst a pandemic webinar on 14 April 2020. The free 1-hour webinar will touch upon how the coronavirus has impacted the commercial shipping markets and what the future may hold.

The coronavirus outbreak has affected all aspects of the shipping industry, lowering, if not wiping out, demand growth prospects for the year across all segments. The outbreak has also affected fleet development.

Geopolitics is the dominating variable in the tanker market these days. With the OPEC+ negotiations falling apart and Saudi Arabia initiating an oil price war, the crude oil tanker spot freight rates, and time charter (TC) rates have soared.

Before the coronavirus outbreak, shipping was already facing headwinds, including those caused by the trade war which has lowered volumes and changed trade patterns, both interesting developments which will continue into the future even as the world adjusts to the new reality.

Amid massive market uncertainty, BIMCO has analysed the potential implications of a pandemic for the commercial shipping markets and Chief Shipping Analyst, Peter Sand, will deliver the insights in a string of webinars in the coming weeks.

The World Health Organization (WHO) has declared the outbreak of the novel coronavirus a pandemic. There is little doubt that this will have significant implications for the shipping industry. But to what extent?